In a chat with ET Now, Jagdish Bhagwati, Prof Eco & Law, Columbia University, shares his macroeconomic outlook and talks about his expectations from the Budget 2015. Excerpts: Supriya Shrinate: Some say that the biggest risk for the Budget 2015 is going to be the truckload of expectations. Your take? Jagdish Bhagwati: It has to be emphasised that everything cannot come through the budget. A government introduces policy changes throughout the...

MUMBAI: Noted economist Jagdish Bhagwati today said the country should take the anti-offshoring bogey in the US seriously and lobby hard to counter its effects. "We would be foolish to continue pretending that 'this (anti-outsourcing tirade) does not matter', and it is simply a 'political patter'. With jobs a continuing issue, any time politicians in the US condemn outsourcing, we lose brownie points," he said. "There is little doubt that Obama and the Democrats in...

In a chat with ET Now, Jagdish Bhagwati, Prof Eco & Law, Columbia University, shares his macroeconomic outlook and talks about his expectations from the Budget 2015. Excerpts: Supriya Shrinate: Some say that the biggest risk for the Budget 2015 is going to be the truckload of expectations. Your take? Jagdish Bhagwati: It has to be emphasised that everything cannot come through the budget. A government introduces policy changes throughout...

AHMEDABAD: Noted economist Jagdish Bhagwati today paid a courtesy visit to Gujarat Chief Minister Anandiben Patel at Gandhinagar and lauded 'the Gujarat Model' of development. In her tweets after the meeting, Patel said Bhagwati appreciated the Gujarat model of development as well as the steps taken by the state government for women empowerment and girl child education . They discussed the ways to bring about inclusive growth and take...

NEW DELHI: Strategy-oriented growth that will help generate revenue to spend on social sectors, which in turn will lift millions of people out of poverty— that's Jagdish Bhagwati's prescription for the Narendra Modi government . "Growth is a strategic instrument that pulls up people into gainful employment. It generates revenue that helps government spend on social activities," Bhagwati said at the Economic Times Global Business Summit...

ET Now caught up with Jagdish Bhagwati , Economist, Columbia University , for his take on some of the measures taken by the Prime Minister recently. Excerpts: ET Now: What is your view on the measures taken by the Prime Minister? Jagdish Bhagwati: What you have to understand is that I am a gradualist, and not a shock-therapist. I think that the Prime Minister has taken a number of measures in the right direction. ET Now: Can you suggest...

NEW DELHI: Strategy-oriented growth that will help generate revenue to spend on social sectors, which in turn will lift millions of people out of poverty— that's Jagdish Bhagwati's prescription for the Narendra Modi government . "Growth is a strategic instrument that pulls up people into gainful employment. It generates revenue that helps government spend on social activities," Bhagwati said at the Economic Times Global Business...

NEW DELHI: Jagdish Bhagwati , Amartya Sen's staunch rival, says that the Nobel Prize-winning economist's claim that he will return the Bharat Ratna, the nation's highest civilian award, looks like a "hollow gesture". Bhagwati, professor of economics, law and international affairs at Columbia University , told ET Magazine, "I do not think anyone should be strpped of an honour, once given. I was surprised to see, however, that Sen is reported to have...

NEW DELHI: Describing the BJP's election victory as an "astonishing triumph of Narendra Modi", noted economist Jagdish Bhagwati today advised him to retain Raghuram Rajan as RBI Governor and to hold monthly press conferences to articulate the government's agenda. "The astonishing triumph of Narendra Modi in the greatest election ever held puts India back on the map. "Unlike the UPA leaders, the new PM, who is not tongue- tied, should...

WASHINGTON: Endorsing the steps initiated by Narendra Modi-government to boost India's economy, noted economist Jagdish Bhagwati has said the Indian Prime Minister has a "practical approach" to trade and investment. Highly appreciative of the administrative measures taken by the new Indian government, Bhagwati believes that Modi would be able to address problems of large-scale unemployment by promoting labour-intensive investments. ...

Jagdish Bhagwati laughs at the notion of a role in the Modi government. At the age of 80, says the celebrated economist and Columbia University's professor of economic and law, he is prone to falling asleep and is unlikely to be able to put the kind of hours the prime minister demands from his top aides. He is also willing to bet a case of wine—Indian wine—that Modi will open multi-brand retail to foreign investors within a year because the mandate has...

NEW DELHI: Just a day to go for the ET Global Business Summit . A 500-plus select audience of ministers, BJP and Opposition leaders, CEOs, ambassadors and top government officials will listen to PM Narendra Modi's keynote speech and FM Arun Jaitley's special address that will be followed by an interactive session. There will also be addresses by key Modi government ministers Suresh Prabhu, Ravi Shankar Prasad, Piyush Goyal and Jayant Sinha, as well...

NEW DELHI: Economist Jagdish Bhagwati has drawn a parallel between the spate of Ordinances issued by the Narendra Modi-led government and the executive action that US President Barack Obama had taken to push reforms. Bhagwati, who was delivering the Madhavrao Scindia Memorial Lecture in the capital on Tuesday, said that Prime Minister Narendra Modi is a US style politician and he could not "think of a better leader in any...

ET Now caught up with Jagdish Bhagwati , Economist, Columbia University , for his take on some of the measures taken by the Prime Minister recently. Excerpts: ET Now: What is your view on the measures taken by the Prime Minister? Jagdish Bhagwati: What you have to understand is that I am a gradualist, and not a shock-therapist. I think that the Prime Minister has taken a number of measures in the right direction. ET Now: Can you...

WASHINGTON: Endorsing the steps initiated by Narendra Modi-government to boost India's economy, noted economist Jagdish Bhagwati has said the Indian Prime Minister has a "practical approach" to trade and investment. Highly appreciative of the administrative measures taken by the new Indian government, Bhagwati believes that Modi would be able to address problems of large-scale unemployment by promoting labour-intensive investments. ...

Sayre's Law states, "In any dispute, the intensity of feeling is inversely proportional to the value of the issues at stake. " But the kicker is in the corollary, "That's why academic politics are so bitter. " It was formulated by Wallace Stanley Sayre, a political scientist at Columbia, and it is an aphorism that one of his more recent colleagues, Jagdish Bhagwati, might need to consider. Academics would respond indignantly that their arguments are abrasive because the...

NEW DELHI: Describing the BJP's election victory as an "astonishing triumph of Narendra Modi", noted economist Jagdish Bhagwati today advised him to retain Raghuram Rajan as RBI Governor and to hold monthly press conferences to articulate the government's agenda. "The astonishing triumph of Narendra Modi in the greatest election ever held puts India back on the map. "Unlike the UPA leaders, the new PM, who is not tongue- tied, should hold...

The Indian media specialises in infotainment. An entertaining spin converts boring information into heated discussion. Some journalists have equated the Amartya Sen-vs-Jagdish Bhagwati debate with the Congress-versus-BJP debate in the coming general election. Rubbish! Sen does not embody the Congress, nor Bhagwati the BJP. Both the Congress and BJP borrow ideas from both. The boring truth is that differences between Sen and Bhagwati are...